State Budget 2017-18 fiscal presented in Orissa Legislative Assembly

7 months ago

28-02-2017

ANI

New Delhi , Feb 27 : Finance Minister Pradeep Kumar Amat on Monday presented the State Budget for 2017-18 fiscal in the session of Orissa Legislative Assembly to review several new features after changes made in line with the Union Budget such as merger of non-plan and plan expenditure.

Pradip Amat said that it is for the first time in line with the Union Budget model, that this budget has abolished the planned and non-planned expenditures and allocations made as per the schemes and programmes.

Sectors such as agriculture, health, rural electrification, establishment of five new medical colleges, education and tribal development were the most prioritized in the Budget.

Amat added that government will present a special agriculture budget with a total budgetary outlay of Rs. Rs 1,06,911 crore out of which, funds will be allocated for completion of the ongoing projects and increase in social sector spending.

However, the Central Budget presented on February 1 belied the hopes of the State Government, which was expecting more assistance in social and other sectors.

Generation of tax and non-tax revenue has also been affected because of demonetisation and its adverse effect on economy.

As the Government announced that it will implement the Seventh Pay Commission recommendations, there will be additional burden of '5,000 crore on the exchequer.

Besides, implementation of the scheme to convert kutcha houses to pucca will require another '4,000 crore.

It also announced revised pay structure for four lakh employees and nearly three lakh pensioners for which the State Government will have to depend on market borrowings to meet requirements in all the sectors.